4 1 form-4.txt FORM4 FORM 4 [ ] Check this box if no ------------------------------------ longer subject to OMB APPROVAL Section 16, Form 4 or ------------------------------------ Form 5 obligations may OMB Number 3235-0287 continue. See Instruction 1(b) Expires: January 31, 2005 Estimated average burden .......0.5 ------------------------------------ U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 ------------------------------------------------------------------------------- 1. Name and Address of Reporting Person Frappier Ken ------------------------------------------------------------------------------- (Last) (First) (MI) c/o RAIT Investment Trust 1818 Market Street 28th Floor -------------------------------------------------------------------- (Street) Philadelphia PA 19103 ------------------------------------------------------------------------------- (City) (State) (Zip) ------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol RAIT Investment Trust ("RAS") ------------------------------------------------------------------------------- 3. IRS or Social Security Number of Reporting Person (Voluntary) ------------------------------------------------------------------------------- 4. Statement for Month/Year | 5. If Amendment, Date of | Original (Month/Year) 04/02 | ------------------------------------------------------------------------------- 6. Relationship of Reporting Person to Issuer (Check all applicable) [ ] Director [ ] 10% Owner [ X ] Officer [ ] Other (specify below) (give title below) Senior Vice President Portfolio and Risk Management ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- TABLE I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned -------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------- 1. Title of Security | 2. Transaction Date | 3. Transaction Code | 4. Security Acquired (A) or Disposed (Instr. 3) | (Month/Day/Year) | (Instr. 8) | of (D) (Instr. 3, 4 & 5) | | | ----------------------------------------------------------------------------------------------------------------------------------- | | Code | V | Amount | (A) or| Price | | | | | (D) | ----------------------------------------------------------------------------------------------------------------------------------- Common Shares of Beneficial | | | | | | Ownership | 4/3/02 | J(1) | | 7,000 | A | $19.85 ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ===================================================================================================================================
--------------------------------------------------------------------------------------------------------------------------------- 1. Title of Security | 5. Amount of Securities | 6. Ownership Form: | 7. Nature of Indirect Beneficial (Instr. 3) | Beneficially Owned at | Direct (D) or | Ownership (Instr. 4) | End of Month | Indirect (I) | | (Instr. 3 & 4) | (Instr. 4) | --------------------------------------------------------------------------------------------------------------------------------- Common Shares of Beneficial | | | Ownership | 7,000 | D | --------------------------------------------------------------------------------------------------------------------------------- | | | --------------------------------------------------------------------------------------------------------------------------------- | | | --------------------------------------------------------------------------------------------------------------------------------- | | | --------------------------------------------------------------------------------------------------------------------------------- | | | --------------------------------------------------------------------------------------------------------------------------------- | | | --------------------------------------------------------------------------------------------------------------------------------- | | | =================================================================================================================================
Reminder: Report on a separate line for each class of securities beneficially owned directly. (Over) SEC 1474 (3/91) FORM 4 (continued) ------------------------------------------------------------------------------- TABLE II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) -------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative Security | 2. Conversion or | 3. Transaction Date | 4. Transaction | 5. Number of Derivative (Instr. 3) | Exercise Price of | (Month/Day/Year) | Code (Instr.| Securities Acquired | Derivative Security | | 8) | (A) or Disposed of | | | | (D) (Instr. 3, 4 & 5) ----------------------------------------------------------------------------------------------------------------------------------- | | | Code | V | (A) | (D) ----------------------------------------------------------------------------------------------------------------------------------- Option to purchase common shares | $19.85 | 4/3/02 | A | | 27,000 | ----------------------------------------------------------------------------------------------------------------------------------- Option to purchase common shares | $19.85 | 4/3/02 | M | | 7,000 | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | | ===================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative Security | 6. Date Exercisable and | 7. Title and Amount of Underlying | 8. Price of Derivative (Instr. 3) | Expiration Date | Securities (Instr. 3 & 4) | Security (Instr. 5) | (Month/Day/Year) | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | Date | Expiration | Title | Amount or Number | | Exercisable | Date | | of Shares | | | | | | ----------------------------------------------------------------------------------------------------------------------------------- Option to purchase common shares | 4-3-02(2) | 4-3-12 | Common Shares | 27,000 | $19.95 ----------------------------------------------------------------------------------------------------------------------------------- Option to purchase common shares | 4-3-02(2) | 4-3-12 | Common Shares | 7,000 | $19.85 ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | | | ===================================================================================================================================
----------------------------------------------------------------------------------------------------------------------------------- 1. Title of Derivative Security | 9. Number of Derivative | 10. Ownership Form of Derivative | 11. Nature of Indirect (Instr. 3) | Securities Beneficially | Security: Direct (D) or | Beneficial Ownership | Owned at End of Month | Indirect (I) (Instr. 4) | (Instr. 4) | (Instr. 4) | | ----------------------------------------------------------------------------------------------------------------------------------- Option to purchase common shares | 20,000 | D | ----------------------------------------------------------------------------------------------------------------------------------- Option to purchase common shares | 20,000 | D | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ----------------------------------------------------------------------------------------------------------------------------------- | | | ===================================================================================================================================
Explanation of Responses: (1) Receipt of shares acquired upon exercise of option as reported on this Form 4. (2) 14,500 of these options were granted pursuant to the early exercise feature of the issuer's stock option plan. Under this plan, options may be exercised immediately after the grant. Early exercised shares are restricted; they receive distributions and may be voted, but they are disposable only in accordance with the vesting schedule. ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). /s/ Ken Frappier 6/6/02 ------------------------------------ ------------------- **Signature of Reporting Person Date Note: File three copies of this form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. SEC 1474 (3/91)